Published on 11/5/2014 in the Prospect News Structured Products Daily.
New Issue: Deutsche Bank prices $1.63 million absolute return review notes linked to WTI crude oil
By Toni Weeks
San Luis Obispo, Calif., Nov. 5 – Deutsche Bank AG, London Branch priced $1.63 million of 0% absolute return review notes due Dec. 3, 2015 linked to WTI crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.1% per year if oil closes at or above the initial price on any quarterly review date.
If the notes are not called and the final price of oil is at least 85% of the initial price, the payout at maturity will be par plus the absolute value of the oil return. If the final price is less than 85% of the initial price, investors will be fully exposed to the decline from the initial price.
The final price will be the average of the closing prices on the five trading days ending Nov. 30, 2015.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Deutsche Bank AG, London Branch
|
| Issue: | Absolute return review notes
|
| Underlying commodity: | WTI crude oil
|
| Amount: | $1.63 million
|
| Maturity: | Dec. 3, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus absolute value of oil return if oil finishes at or above trigger level; otherwise, full exposure to oil’s decline
|
| Call: | Automatically at par plus 10.1% per year if oil closes at or above initial price on Feb. 2, April 30, 2015, July 31, 2015 or Nov. 30, 2015
|
| Final oil price: | Average of closing prices on the five trading days ending Nov. 30, 2015
|
| Initial price: | $80.54
|
| Trigger price: | $68.46, 85% of initial price
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 25152RSK0
|
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